Fortune Brands Home & Security (FBHS) Upgraded by Gabelli to “Buy”

Fortune Brands Home & Security (NYSE:FBHS) was upgraded by equities researchers at Gabelli from a “hold” rating to a “buy” rating in a report released on Monday, MarketBeat.com reports. The firm currently has a $78.00 price target on the industrial products company’s stock. Gabelli’s target price suggests a potential upside of 23.52% from the stock’s previous close.

A number of other analysts also recently issued reports on FBHS. Zacks Investment Research raised Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Thursday, January 11th. Robert W. Baird reaffirmed a “buy” rating and set a $72.00 price target on shares of Fortune Brands Home & Security in a report on Tuesday, October 24th. Barclays decreased their price target on Fortune Brands Home & Security from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. SunTrust Banks reaffirmed a “hold” rating and set a $63.00 price target on shares of Fortune Brands Home & Security in a report on Friday, November 10th. Finally, Citigroup lifted their price target on Fortune Brands Home & Security from $68.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Fortune Brands Home & Security presently has an average rating of “Hold” and a consensus target price of $73.31.

Fortune Brands Home & Security (NYSE:FBHS) traded up $1.44 on Monday, reaching $63.15. The company had a trading volume of 3,197,896 shares, compared to its average volume of 1,606,731. Fortune Brands Home & Security has a 1 year low of $56.19 and a 1 year high of $73.62. The firm has a market cap of $9,367.63, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.77 and a quick ratio of 1.13.

Fortune Brands Home & Security (NYSE:FBHS) last released its earnings results on Thursday, February 1st. The industrial products company reported $0.80 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. Fortune Brands Home & Security had a return on equity of 18.73% and a net margin of 8.95%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the firm posted $0.71 EPS. Fortune Brands Home & Security’s revenue for the quarter was up 6.2% on a year-over-year basis. equities research analysts anticipate that Fortune Brands Home & Security will post 3.63 EPS for the current year.

Fortune Brands Home & Security announced that its board has authorized a stock buyback plan on Monday, December 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

In other Fortune Brands Home & Security news, Director Ronald V. Waters sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $71.50, for a total transaction of $357,500.00. Following the completion of the sale, the director now directly owns 21,674 shares of the company’s stock, valued at approximately $1,549,691. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.61% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FBHS. Chicago Partners Investment Group LLC purchased a new stake in Fortune Brands Home & Security during the 3rd quarter valued at approximately $117,000. Cerebellum GP LLC purchased a new stake in Fortune Brands Home & Security during the 4th quarter valued at approximately $127,000. Pinebridge Investments L.P. raised its stake in Fortune Brands Home & Security by 325.8% during the 4th quarter. Pinebridge Investments L.P. now owns 1,946 shares of the industrial products company’s stock valued at $133,000 after acquiring an additional 1,489 shares during the last quarter. Bessemer Group Inc. raised its stake in Fortune Brands Home & Security by 1,169.9% during the 4th quarter. Bessemer Group Inc. now owns 1,943 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 1,790 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Fortune Brands Home & Security by 18,835.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,651 shares of the industrial products company’s stock valued at $182,000 after acquiring an additional 2,637 shares during the last quarter. 87.04% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Fortune Brands Home & Security (FBHS) Upgraded by Gabelli to “Buy”” was published by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/02/12/fortune-brands-home-security-fbhs-upgraded-by-gabelli-to-buy.html.

Fortune Brands Home & Security Company Profile

Fortune Brands Home & Security, Inc is a holding company. The Company operates through four segments. The Cabinets segment includes custom, semi-custom and stock cabinetry for the kitchen, bath and other parts of the home under brand names, including Aristokraft, Mid-Continent, Diamond, Kitchen Classics, Kitchen Craft, Schrock, Omega, Homecrest, Thomasville, StarMark and Ultracraft.

Analyst Recommendations for Fortune Brands Home & Security (NYSE:FBHS)

Receive News & Ratings for Fortune Brands Home & Security Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortune Brands Home & Security and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply